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    MarketForces Africa » MarketForces News » FG Targets Enhanced Wheat Production with Agric. Subsidy Scheme

    FG Targets Enhanced Wheat Production with Agric. Subsidy Scheme

    Marketforces AfricaBy Marketforces AfricaDecember 13, 2024 News No Comments2 Mins Read
    FG Targets Enhanced Wheat Production with Agric. Subsidy Scheme
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    FG Targets Enhanced Wheat Production with Agric. Subsidy Scheme

    Federal Government of Nigeria targets improved wheat production from its subsidized agricultural growth scheme, the authority has revealed.

    The Federal Ministry of Finance said it is advancing Nigeria’s wheat production through the National Agricultural Growth Scheme and Agro Pocket (NAGS-AP).

    According to the ministry, the initiative spans 16 wheat-producing states, aiming to enhance agricultural productivity and boost economic growth.

    During a briefing with the Honourable Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun at the Federal Ministry of Finance Head Quarters, Ishaku Buba, National Project Coordinator, disclosed that the scheme is targeting 280,000 smallholder farmers and a select group of medium-scale farmers in selected clusters.

    Participants are required to contribute resources to cover inputs for one hectare of irrigated land.

    Fertilizer packages vary, with farmers in most states receiving 50kg of urea and 100kg of NPK fertilizer, while farmers in Jigawa State receive increased inputs due to its soil nutrient demands and a commitment of the Jigawa State Government to boost wheat production.

    The project provides significant financial support, including 25% subsidies on certified wheat seeds and 50% subsidies on fertilizers, reducing costs for participating farmers.

    To facilitate distribution, 409 redemption centres have been established, with 281 already operational, reaching 68,389 farmers—24.42% of the target.

    The program is expected to conclude its input distribution phase later this month, aligning with the wheat planting calendar. Enhanced security measures have been enacted, with personnel from the Police, DSS, and NSCDC in place at redemption centres to ensure smooth operations.

    In his closing remarks HM Edun commended the project team for their efforts, emphasizing the scheme’s potential to strengthen food security, support rural economies, and reduce Nigeria’s dependence on imported wheat. #FG Targets Enhanced Wheat Production with Agric. Subsidy Scheme#

    OANDO, ACCESS Midday Gain Boost Equities Market Index

    Finance Minsiter Wale Edun Wheat Production
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